The annual inflation rate in the eurozone is estimated to be 2.1% in August, up from 2.0% in July, but lower than 2.2% from the same period last year, according to a quick estimate released today by Eurostat.
According to the European Union’s statistics service, among the main components of inflation in the eurozone, food, alcohol, and tobacco are expected to register the highest annual rate in August (3.2%, down from 3.3% in July), followed by services (3.1%, down from 3.2% in July), non-energy industrial goods (0.8%, stable compared to July), and energy (-1.9%, up from -2.4% in July).
The year-on-year inflation in the eurozone exceeded the 2.0% target set by the European Central Bank in August, after two consecutive months of alignment.
The core inflation rate (excluding volatile elements such as energy and food prices) remained stable at 2.3% on a monthly basis, down from 2.8% in August 2024, as reported by the Harmonized Index of Consumer Prices (HICP) released today.
Among eurozone countries, the highest year-on-year inflation rates in August—measured by HICP—are reported in Estonia (6.2%), Croatia (4.6%), and Slovakia (4.4%).
Conversely, the lowest inflation rates are estimated in Cyprus (-0.1%), Italy (1.7%), and Ireland (1.8%).
In Portugal, price increases are estimated by Eurostat to be 2.5% in August.
[News updated at 10:38]
